Vivo Bio Tech surges on launching large animal facility
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Vivo Bio Tech is currently trading at Rs. 48.56, up by 1.73 points or 3.69% from its previous closing of Rs. 46.83 on the BSE.
The scrip opened at Rs. 45.89 and has touched a high and low of Rs. 49.99 and Rs. 44.97 respectively. So far 95367 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 56.90 on 07-Jan-2025 and a 52 week low of Rs. 31.20 on 14-Nov-2024.
Last one week high and low of the scrip stood at Rs. 56.90 and Rs. 43.20 respectively. The current market cap of the company is Rs. 75.58 crore.
The promoters holding in the company stood at 42.08%, while Non-Institutions held 57.92% stake in the company.
Vivo Bio Tech has successfully secured approval from the Committee for the Purpose of Control and Supervision of Experiments on Animals (CPCSEA), obtained funding from a financial institution, and completed the development of a state-of-the-art large animal facility. This advanced 15,000 sq. ft. facility, co-funded through internal accruals and institutional debt, is designed to house, breed, and conduct studies on canines, pigs, mini-pigs, sheep, and goats. Operations have already commenced at the facility, which offers a wide range of services, including Pharmacokinetic (PK), Pharmacodynamic (PD), Surgical Studies, and Toxicology Studies. These services are being provided to an expanding list of major pharmaceutical and bio-pharmaceutical companies.
This new capability significantly strengthens Vivo Bio Tech’s existing ecosystem, which encompasses In-vitro and In-vivo Small Animal Studies, Eco-Toxicology, Analytical, and Bio-analytical services. The addition of this large animal facility enables the company to deliver comprehensive Investigational New Drug (IND) packages to pharmaceutical and biotech companies worldwide. Vivo Bio Tech now proudly joins an elite group of Contract Research Organizations (CROs) capable of supporting diverse research and development needs across both large and small animal models. Furthermore, the company is committed to expanding its capabilities to position itself as a joint discovery partner for large pharmaceutical organizations.
Vivo Bio Tech (VBTL) is a contract research company engaged in biotechnology and pharma drug discovery activities.
